Russia Q1 GDP Growth Confirmed at 2-Year Low


Russia’s gross domestic product grew by 0.5 percent year-on-year in the first quarter of 2019, easing from a 2.7 percent expansion reported in the previous period and in line with preliminary estimates. That was the weakest growth rate since the last quarter of 2016.

Within the service sector, growth softened for information & communication (1.2 percent vs 2.7 percent in Q4); financial & insurance activities (7.6 percent vs 7.9 percent) and transportation & storage (3.1 percent vs 3.2 percent). In addition, output dropped for real estate activities (-3.5 percent vs 0.3 percent); administrative & support service activities (-2.8 percent vs 2.9 percent); wholesale & retail trade (-3 percent vs 2.2 percent) and public administration & defence (-0.1 percent vs 3.3 percent). By contrast, growth accelerated for leisure and entertainment output (3.7 percent vs 0.6 percent) and professional, scientific and technical activities (0.4 percent vs 0.1 percent).

Within industrial activity, mining output grew the most (4.6 percent vs 7.7 percent), followed by water supply, water disposal, organization of waste collection & disposal, pollution control activities (0.1 percent vs 6.5 percent) while electricity, gas & steam, air conditioning output shrank by 1 percent (vs 1.2 percent in Q4). Meanwhile, manufacturing growth advanced to 0.6 percent from 0.2 percent in Q4. 

Agriculture, forestry & fishing contracted by 1.2 percent in the first quarter o 2019, down from a 2.3 percent gain in the last quarter.

Russia Q1 GDP Growth Confirmed at 2-Year Low


Federal State Statistics Service | Agna Gabriel | agna.gabriel@tradingeconomics.com
6/18/2019 1:58:12 PM